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Oct 2, 2012
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ben bernanke defends his strategy at the federal reserve to do more to help the economy. >> susie: and how technology is making it possible for doctors to go paperless. >> tom: that and more tonight on "n.b.r."! >> susie: the first day of the new quarter, kicks off with a blue chip rally. investors were encouraged by a report showing that american factories were busy in september. a popular index of national factory activity rose to 51.5 last month, from 49.6 in august. it was the fastest pace of production since may. but that upbeat news was overshadowed by comments from federal reserve chief ben bernanke, saying the economy is not growing fast enough to bring down the unemployment rate. we'll have more on that in a moment. those two events led to volatile trading here on wall street. the dow rose about 78 points, but was up as much as 155 points earlier. the nasdaq drifted in and out of positive and negative territory, finally losing more than 2.5 points, and the s&p rose almost four points. and, as suzanne pratt reports there are conflicting views on the state of american manufactur
ben bernanke defends his strategy at the federal reserve to do more to help the economy. >> susie: and how technology is making it possible for doctors to go paperless. >> tom: that and more tonight on "n.b.r."! >> susie: the first day of the new quarter, kicks off with a blue chip rally. investors were encouraged by a report showing that american factories were busy in september. a popular index of national factory activity rose to 51.5 last month, from 49.6 in...
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rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do with us. he also talks about people who try to save money, put money in cds or bank accounts. he said overall for the economy savers will benefit by qe2, by qe3 because the economy overall will be better. he says he's not monetizing the debt. he says the fed will unwind all of this when it comes time, and he says he expects this type of monetary policy will be in place for a considerable amount of time after the economy strengthens. he also addressed a question posed to him by the fox business network asking whether or not the united states is currently in a
rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do...
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Oct 1, 2012
10/12
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fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heels of apple's flawed debut of its new mapping app, nokia and oracle customers will have access to nokia's data and location services. >> hewlett-packard is set to roll out a new tablet device today that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two gun
fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks....
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you saider ben bernanke. right. national bureau of economic research they have been slow to call recessions. 1970 downturn they waited eight to nine months to call recession. just this past recession they called it in september 2010, about a year after it had ended. that is the issue here. when will the officials come out and say we're in a recession? we don't know whether we are but sure feels like one that we're close to a double-dip, if not just flat-lining right now given that business confidence has taken a hit. we saw the business round table come out and say look, our confidence is a three-year low for business executives. ashley: yep. >> is it just a fiscal cliff or is it more? that is what we're trying to get to the bottom of. federal reserve district the report slowing down economic activity in a number of regions including philadelphia and kansas city. ashley: plenty to chew on. emac, thank you very much. tracy: we need replacement refs? ashley: there you go. tracy: viewers cutting too deep for their own
you saider ben bernanke. right. national bureau of economic research they have been slow to call recessions. 1970 downturn they waited eight to nine months to call recession. just this past recession they called it in september 2010, about a year after it had ended. that is the issue here. when will the officials come out and say we're in a recession? we don't know whether we are but sure feels like one that we're close to a double-dip, if not just flat-lining right now given that business...
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in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a
in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an...
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Sep 28, 2012
09/12
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CNBC
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my point here, carl, is don't fight ben bernanke. if he came out and said, ladies and gentlemen, me and mr. drogy and i want people to buy stewed prunes, everybody should listen carefully. you may think it's wrong, but i sure would not go out and short stewed prunes on that idea. that's the problem that a lot of people are having. a lot of people are underperforming the market because their ideologies are getting in the way. >> thank you. let's get another capital markets op-ed. gary, talk a little politics. >> we'll get to that in a second. i steered clear of politics for quite some time. but let me talk about a cool breeze about what's happened. think back to mid-august. we did that informal survey. we asked people what would be the most important factor for the equity markets in 2012. 65% said it was going to be the election, if you remember. it has not been the case since mid-august. and as e we said all along, it's been about central banks. i do think that's going to change. i think politics will once again become something that
my point here, carl, is don't fight ben bernanke. if he came out and said, ladies and gentlemen, me and mr. drogy and i want people to buy stewed prunes, everybody should listen carefully. you may think it's wrong, but i sure would not go out and short stewed prunes on that idea. that's the problem that a lot of people are having. a lot of people are underperforming the market because their ideologies are getting in the way. >> thank you. let's get another capital markets op-ed. gary,...
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Sep 27, 2012
09/12
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FBC
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ben bernanke trying to create the wealth effect. everybody feels more wealthy because the asset prices are going up, that helps the economy come around. by the same token if you look to the democratic side of things, if you look at the other guys, now we have to expand government and that will get the economy turning. i found that odd both of those are being played together at the exact same time right now. stuart: see you again soon. according to new polls for president obama has a big lead in the female vote over mitt romney. in ohio the president leads romney 60-35 among women. now obama deputy campaign manager says women don't care about the president's record. listen to this. >> they're not really concerned about what is happening over the last four years. stuart: congresswoman joins us now. it is very hard to get around or explain the enormous lead president obama seems to have among women voters. i put it to you they're going to be president because they're getting bought on that issue. tell me i am wrong. >> i do think you'r
ben bernanke trying to create the wealth effect. everybody feels more wealthy because the asset prices are going up, that helps the economy come around. by the same token if you look to the democratic side of things, if you look at the other guys, now we have to expand government and that will get the economy turning. i found that odd both of those are being played together at the exact same time right now. stuart: see you again soon. according to new polls for president obama has a big lead in...
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it's not widely understood, but that money that ben bernanke has been printing has been used to buy that debt and that's pushed treasury prices way up, bubble level. it is a bubble. what happens when it bursts? it will eventually. pretty soon people who lend it will say you can't pay it back and then you have killed the dollar. and the interest rates goes straight up and the economy goes straight down and ben will be unable to print out of trouble because it was printing that got us into the mess in the first place, i do not have a solution, only the conviction that we're indeed in another bubble and i don't know exactly how it will shake out. i don't know which investment will do well eventually, but i do know that this bubble will burst and when that happens, there will be a river of tears. so anyway, i've been to a lot of places. you know, i've helped a lot of people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what
it's not widely understood, but that money that ben bernanke has been printing has been used to buy that debt and that's pushed treasury prices way up, bubble level. it is a bubble. what happens when it bursts? it will eventually. pretty soon people who lend it will say you can't pay it back and then you have killed the dollar. and the interest rates goes straight up and the economy goes straight down and ben will be unable to print out of trouble because it was printing that got us into the...
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Oct 1, 2012
10/12
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. >>> he was an advocate for open-ended qe long before fed chairman ben bernanke announced qe infinity. >> now chicago fed president charles evans is ready to take on critics of the plan. >>> we're kicking off the fourth quarter with the biggest bull of all the squawkmarket masters. the odds of hitting dow's 17,000 by the end of next year are looking better and better says jeremy siegel. the third hour of "squawk box" starts right now. ♪ >>> good morning again. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin and our guest host has been craig barrett, the former chairman and ceo of intel, obviously we have a lot more to discuss with him but we also have many other big guests who are joining us through the hour, don't forget that this is the beginning of the fourth quarter, you can start it off with our portfolio strategy session, speaking with jeremy siegel about the market events likely to drive the fourth quarter including the november election. coming up at 8:30 a.m. eastern, cnbc's exclusive interview with chicago fed preside
. >>> he was an advocate for open-ended qe long before fed chairman ben bernanke announced qe infinity. >> now chicago fed president charles evans is ready to take on critics of the plan. >>> we're kicking off the fourth quarter with the biggest bull of all the squawkmarket masters. the odds of hitting dow's 17,000 by the end of next year are looking better and better says jeremy siegel. the third hour of "squawk box" starts right now. ♪ >>> good...
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Sep 25, 2012
09/12
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FOXNEWS
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it's amazing what soup can do. [ laughing ] [ laughing ] [ laughing ] [ laughing ] ♪ >> gretchen: ben bernanke said last week the fed's decision to increase cash flow was motivated by the need to get more americans back to work. fox friends friends is doing our rt. cheryl here with the companies hiring right now. we start with medifac. >> good morning. we as a nation, unfortunately, are getting heavier, obesity, orproblem in this country. there are a lot of companies that are benefitting from this. this is one of them. they are not only increasing their distribution operations, those that want to do the system at home can do it, but the centers. you can walk in, get that health care professional 150 jobs by the end of the year. i had the ceo on my show and i asked him kind of why the opportunity here and why he's growing. shear what he told me. >> we're coming out with a lot of new products. we've come out with 11 new products over the last three months. we're coming out with more in november. we've seen great success and we've been growing at over 20%. so our growth rate is high. >>
it's amazing what soup can do. [ laughing ] [ laughing ] [ laughing ] [ laughing ] ♪ >> gretchen: ben bernanke said last week the fed's decision to increase cash flow was motivated by the need to get more americans back to work. fox friends friends is doing our rt. cheryl here with the companies hiring right now. we start with medifac. >> good morning. we as a nation, unfortunately, are getting heavier, obesity, orproblem in this country. there are a lot of companies that are...
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Oct 2, 2012
10/12
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you know the one who termed it, the person who coined the term looks like it was ben bernanke, federal reserve chairman. he used the term earlier this year. so also at the same time, we've got health reform coming in with new levies on investment. >> gretchen: new taxes? that would be coming at the same time. this is up to congress or the president? who needs to do something? >> here is the issue, depends on who wins and how the lay of the land will g depending on who wins the election. if the president wins reelection, you'll possibly see gridlock. now the talk is to just let them expire temporarily and then do a quick fix for everybody but the upper bracket, so that way you could say look, we passed a tax cut and we did raise taxes on the upper bracket. if mitt romney, then he'll probably say i need time to fashion a budget. i'll have to do this in 2013. there may be delay. in that case, in either scenario, the u.s. congress would say to the irs look, adjust the tax withholding tables and so until we deal with this. so it's not an open and shut case. everybody will see their tax rate
you know the one who termed it, the person who coined the term looks like it was ben bernanke, federal reserve chairman. he used the term earlier this year. so also at the same time, we've got health reform coming in with new levies on investment. >> gretchen: new taxes? that would be coming at the same time. this is up to congress or the president? who needs to do something? >> here is the issue, depends on who wins and how the lay of the land will g depending on who wins the...
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Oct 1, 2012
10/12
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september ism in less than an hour as well as a speech from ben bernanke. >> two big downgrades on two big companies. microsoft says momentum will slow. >> and facebook's stock is up 30% from the july lows. >>> and julia boorstin with a sitdown with facebook's cheryl sandberg. >>> futures ant rise and the fourth quarter gets under way. major indices coming off a third quarter that was their best quarterly performance in two years. but there's a lot for wall street to digest this week waiting for today's monetary policy speech from bernanke. and the big jobs number is coming up on friday. it's been said that q3 was characterized by expectations from central banks, that we got what we wanted and that's not necessarily going to be the picture for this quarter. >> you're fighting worldwide feds. if you don't like the market, i understand expectations lowered along with estimates lowered. all you have to do is beat estimates even if they're lowered and you have the various feds behind you. still got a good market. >> evans this morning on "squawk" is few moments ago saying he'd like to see
september ism in less than an hour as well as a speech from ben bernanke. >> two big downgrades on two big companies. microsoft says momentum will slow. >> and facebook's stock is up 30% from the july lows. >>> and julia boorstin with a sitdown with facebook's cheryl sandberg. >>> futures ant rise and the fourth quarter gets under way. major indices coming off a third quarter that was their best quarterly performance in two years. but there's a lot for wall street...
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Oct 2, 2012
10/12
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. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election seven weeks away. this happened on the president's watch. he was suggesting a solution. i said we must work together in a bipartisan way to get this done. but the fact is is that they knew, they were withholding the information from congress because they were hoping to get to the election, in my view. but the fact is four years ago the end of september if we didn't act immediately, we would not have an economy by monday. that would have been a disaster for our country. so while we want to do more to help individual families and the republicans instructed that in the last two years, the fact i
. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election...
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Oct 2, 2012
10/12
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. >> that was chairman of the federal reserve ben bernanke yesterday discussing the fed's impact on the recovery of the housing market. and joining us now, co-host of cnbc's squawk on the street david faber, and doug lebda. good to have you both onboard this morning. it seems to me housing always seems like a separate issue that maybe didn't get talked about as much. is that retrospectively incorrect? because it does seem so fundamental, david. >> it's fundamental in the economy in many ways. certainly helped us during the boom period in housing that we saw adding to gdp, construction, and so many other things. people refinancing their homes. it hasn't been discussed that much, you're right, particularly given that the president seems to have backed off a bit, perhaps, on a number of plans that would've relieved people from mortgages that they otherwise are not in a great position to pay but there was a lot of political opposition to that. but housing is starting to come back. we are starting to see real signs of not just stabilization but even perhaps some growth. doug can speak, i'm s
. >> that was chairman of the federal reserve ben bernanke yesterday discussing the fed's impact on the recovery of the housing market. and joining us now, co-host of cnbc's squawk on the street david faber, and doug lebda. good to have you both onboard this morning. it seems to me housing always seems like a separate issue that maybe didn't get talked about as much. is that retrospectively incorrect? because it does seem so fundamental, david. >> it's fundamental in the economy in...